The IMF and Russia in the 1990's

Author/Editor:

John C. Odling-Smee

Publication Date:

August 1, 2004

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper explains the IMF's impact on economic policies in Russia, focusing on where the IMF made a difference. The Russian economic and political leadership essentially determined economic policies. The IMF's influence was modest: it had only a limited impact on overall fiscal policy and the major structural reforms, but it had a positive impact on monetary policy. A tougher position on fiscal policy in 1996-98 might have produced a better outcome. The G-7's concerns weakened the IMF. However, the IMF played a major role in transferring knowledge about macroeconomic policymaking and implementation.

Series:

Working Paper No. 2004/155

Subject:

Correspondent banking Financial services Fiscal policy Government debt management Macrostructural analysis Public financial management (PFM) Revenue administration Structural reforms

English

Publication Date:

August 1, 2004

ISBN/ISSN:

9781451857344/1018-5941

Stock No:

WPIEA1552004

Pages:

48

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